Ge ne r al F und F or e c ast New employee group MOUs CalPERS - PowerPoint PPT Presentation

Summar y • Biennial budget – useful for this environment • Unusual situation – projecting deficits in a healthy economy • Priorities – public safety, risk mitigation • Unmet priorities – capital renewal, unfunded retirement liabilities

Ge ne r al F und F or e c ast  New employee group MOUs  CalPERS rate increases  Minimum wage increases  Reserves replenished  Tidelands activities to Tidelands Fund

Highlights/ Change s fr om Study Se ssion  Two Police Officer Positions added; both recommended in FY17/18  Funding for Public Safety – further discussion necessary  $300k added to Capital Renewal reserves  Special Event Grant Program  Promotion accounts status quo (MCCVB/BID’s)

Highlights/ Change s fr om Study Se ssion FY16/17 FY17/18 FY18/19 Estimated Ending Balance $4,690,000 $3,460,000 $1,287,000 (Original Forecast) Move Police Officer to First Year -165,000 -165,000 Add $25k to Reserve (Econ -25,000 -25,000 Uncertainty (@15%) Add $300k to Reserve -300,000 -300,000 Final Estimated Ending Balance $4,690,000 $2,970,000 $797,000

(15%)

Adopt Proposed Biennial Budget including Amendments FY18/19 FY17/18 $52,550,758 $52,865,064 $74,899,395 $72,468,343 General Fund Special Funds

 Budget is starting point; significant work still to be done to address deficits  Additional needs to address:  Capital Renewal  PERS Liabilities  Potential impacts of Federal program eliminations  CDBG funding

Joint Powers Financing Authority Biennial Budget FY 2017/18 FY 2018/19

Bond Issuances •Materials Recycling Facility at Ryan Ranch ($4M) •Sublease funds debt service •Final Payment FY17/18 •Sports Center Expansion ($9.9M) •Lease revenue bond (refinanced 2013 $7.2M) •Transfer from General Fund

Ocean View Plaza Community Services District Budget FY 2017/18

Annual Budget •Professional services $20k •Insurance $7k •Reimbursable by developer